Blog Archives | Page 6 of 27 | South Florida Tech Hub

Jan, 2024

By Nikki Cabus

Guest Blog: Digital Transformation South Florida Style at TECHpalooza

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I was privileged to be invited to participate on a panel for the CIO Breakfast as part of the recent TECHpalooza event here in South Florida (Ft. Lauderdale to be exact). The panel was entitled, “The Future of the AI Revolution.”

I must admit I had modest hopes for the discussion taking place at the ungodly hour of 7am, but I was pleasantly surprised – not only with the sophistication and maturity of the state of digital transformation at the companies represented on the panel, but equally so by the companies represented in the audience.

Having lived in South Florida for almost 22 years now, I have come to accept that this isn’t Silicon Valley, Boston, Austin or any of the other hot tech markets. However, due to Covid, digital nomads and the hard work of local organizations like Tech Hub South Florida, that isn’t the case anymore.

There is a vibrant tech scene stretching from Miami, past Ft. Lauderdale and all the way up to Northern Palm Beach County – and even beyond.

Besides myself, on the panel was Michael Fowler, who is a VP and business unit CIO at Florida Power and Light (FPL), Sam Jaddi, SVP and CIO at ADT, Caroline Roche, VP and Senior Partner IBM’s Transformation Services, and Chad Simpson, the CIO for City Furniture. The panel was moderated by Colby Brannan and Lee Buchness, senior partners at Culture Partners.

Also not able to join us, and missed, were John Machado, the CTO of UKG and Tamecka Mckay, CIO of the City of Ft. Lauderdale. The audience had an equally impressive roster of well-known brands, as well as a good mix of consultants, smaller companies and startups. All attendees were pre-approved and had to be a CIO or of the equivalent level to attend.

Though the discussion centered primarily around how the attendees were using AI or planned on using AI in their organizations, I was struck by the state-of-the-art technology that was being used almost universally across the board. These companies were almost all hybrid cloud users, shifting more and more of their infrastructure to the cloud.

To a person, they all were deep into DevOps and Cloud Native. Because several of them were in highly regulated industries, security and compliance processes were also very sophisticated. The level of digitization of these businesses was remarkable. ADT, for instance, is looking at how the smart home of the future will function and how they can be the hub of that. FPL is extremely forward thinking in communication with their customers via an app and being able to monitor their grid using every technology within their reach. Even City Furniture is digital first, with supply, shopping and delivery services all highly automated and digital.

We tend to think of our local companies, as just that – local. But hearing how they have transformed in the last few years and what their plans are to harness AI and other technologies to become the providers of tomorrow was extremely uplifting. The panel ran for near 90 minutes, as the standing room only audience would not let us off the stage.

Many members of the audience shared their own transformation stories with us. One interesting fact shared was that near 75% of the audience was already using gen AI in their business. Near 100% were well ahead on their digital transformation journeys. Another surprise for me was that their budgets for these initiatives were full speed ahead. I deal so much with tech tool vendors and venture backed companies that I have become used to hearing about budget cuts and delays on projects; but these participants whose companies are not generally thought of as “tech companies” were full speed ahead on their transformations.

We should remember that in the tech world. There is a big economy out there of companies doing exciting things around transformation. More than that, they are really jazzed about what else is coming down the pike and what that can mean as they seek to transform the very fabric of our day-to-day lives – not just in South Florida, but in the entire US and the world beyond that.

Shout out to the South Florida Tech Hub folks for putting on an amazing event.

Posted with permission from TechStrong Group and Digital CXO. Visit their website here.

AI, Boca Raton, Broward, CEO, cio, ft lauderdale, group, miami, south florida, technology, techpalooza, TechStrong

Jan, 2024

By Nikki Cabus

Carrier Announces Agreement to Sell Global Access Solutions Business to Honeywell for $5 Billion

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Carrier Global Corporation (NYSE: CARR) entered into a definitive agreement to sell its security business, Global Access Solutions, which includes the industry-leading brands of LenelS2, Supra and Onity, to Honeywell (NASDAQ: HON) for an enterprise value of $4.95 billion, which represents approximately 17x 2023 expected EBITDA.

Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating solutions that matter for people and our planet for generations to come. From the beginning, the have led in inventing new technologies and entirely new industries. Today, Carrier continues to lead a world-class, diverse workforce.

With approximately 1,200 employees operating in 33 countries, Carrier’s Global Access Solutions business is an innovative global leader in advanced access and security solutions, electronic locking systems, and contactless mobile key solutions. This pending sale will allow the business to build on the strength of its leading brands, innovative solutions, strong partner relationships and high growth potential.

“Global Access Solutions is a great business with dedicated, customer-focused teams, and we look forward to watching its continued growth under the ownership of Honeywell,” said Carrier Chairman & CEO David Gitlin. “The transaction, together with the planned exits of our Industrial Fire, Residential and Commercial Fire, and Commercial Refrigeration cabinet businesses, will accelerate our growth strategy and focus, positioning Carrier to deliver higher growth and superior shareholder value and further reinforcing our track record of performing while transforming.”

Carrier expects net proceeds from the transaction to be approximately $4 billion and intends to use the proceeds to pay down debt. The company anticipates resuming share repurchases as soon as its net leverage returns to approximately 2x EBITDA. Carrier expects to classify the Global Access Solutions business as “held for sale” on the balance sheet, but the results will remain in continuing operations until the sale closes.

The proposed sale is subject to regulatory approvals and customary closing conditions. It is expected to close before the end of Q3 2024.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisor to Carrier. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Linklaters LLP are providing external legal counsel.

The sale agreement is a successful first step in Carrier’s portfolio transformation.

Carrier, climate, energy, honeywell, sale, south florida, technology

Jan, 2024

By Nikki Cabus

Delray Beach-based Cyrno Therapeutics secures funding for smell loss treatment

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Cyrano Therapeutics, Inc. announced that it has secured a $9.0 million Series B financing to advance the development of CYR-064 as a potential first-ever treatment for post-viral smell loss.

Hyposmia, including post-viral hyposmia, is an increasingly prevalent and serious chronic sensory condition for which there is no approved drug therapy and limited treatment options. Hyposmia causes significant impairment in quality of life for many sufferers. Moreover, in older individuals, hyposmia is associated with an increased risk of cognitive impairment and mortality. Prior to the COVID-19 pandemic, an estimated 8 million individuals in the US and Europe suffered from long-term post-viral hyposmia. The COVID-19 pandemic has resulted in dramatically increased prevalence, with an estimated 40 million individuals in the US and Europe currently suffering from long-term post-viral hyposmia.

Delray Beach-based Cyrano Therapeutics is a private, venture-backed clinical stage regenerative medicine company. Since their foundation, the company has been working diligently to develop therapies for people struggling with the loss of smell (hyposmia) and taste.

Co-lead investors participating in the financing include the Florida Opportunity Fund managed by DeepWork Capital and existing investors Lumira Ventures and Remiges Ventures.

DeepWork Capital invests professionally managed committed venture capital in growth-oriented, early-stage companies in the technology and life science sectors. They partner with visionary entrepreneurs building disruptive companies and work closely with other investment groups taking a hands-on approach with its portfolio companies

Cyrano intends to use the proceeds from its Series B financing to advance FLAVOR, its Phase 2, double-blind, randomized clinical trial of CYR-064, an intranasal theophylline spray therapy to treat patients who have lost their sense of smell following recovery from a viral infection. The FLAVOR Phase 2 trial will be conducted at up to 15 sites in the US and the Series B financing is to fund the trial through data readout.

According to Cyrano’s website, “The Cyrano team has developed a unique, proprietary intranasal product to restore function in patients with a chronic loss of taste and smell. This is a condition affecting at least 14 million people in the US and a similar number in Europe, having a significant impact on safety, quality of life and well-being. Currently no marketed therapy exists and aside from the Cyrano product, none are in the pipeline. Cyrano has established the IP estate with the assistance of Wilson Sonsini. Key patents have been issued.”

“This Series B financing enables us to advance what we believe to be a first-of-its-kind treatment for patients suffering from long-term smell loss due to a viral infection,” said Rick Geoffrion, President and CEO of Cyrano Therapeutics, Inc. “Smell loss correlates to functional loss of taste, which can both diminish quality of life and present significant health and safety risks, thus underscoring the urgency in advancing this important therapeutic. We also plan to conduct exploratory research for patients with Parkinson’s disease, 95 percent of whom often experience loss of smell and flavor as the first symptom of the disease.”

Jackson Streeter, MD, Venture Partner at DeepWork Capital, stated: “Cyrano Therapeutics represents an important investment for DeepWork and the Florida Opportunity Fund as we seek to identify and cultivate emerging biotechnology companies in Florida that combine executive and scientific expertise with therapeutic opportunities that offer the potential to address significant, unmet medical needs. We look forward to supporting the entire Cyrano team as the company advances CYR-064 through the FLAVOR Phase 2 trial.”

The number of patients experiencing long-term smell and flavor loss has increased 10-fold in the wake of the COVID-19 pandemic to more than 40 million patients in the US and Europe. Thirty percent of those suffering from smell loss will experience a hazardous event such as food poisoning or the inability to detect hazardous fumes. There is currently no FDA-approved drug therapy to treat smell loss from any cause.

cyrano, deepwork capital, funding, healthcare, smell loss, south florida, taste

Jan, 2024

By Nikki Cabus

FDA Clearance Granted for First AI-Powered Medical Device to Detect All Three Common Skin Cancers

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DermaSensor Inc. announces FDA clearance for its real-time, non-invasive skin cancer evaluation system. For the first time, the 300,000 primary care physicians in the U.S. can now be equipped to provide quantitative, point-of-care testing for all types of skin cancer. Better identifying skin cancer in a primary care setting is designed to accelerate patient access to necessary care.

DermaSensor Inc. is a health technology company designing non-invasive tools to better equip primary care physicians for skin cancer detection. The DermaSensor device is an affordable, handheld tool that uses spectroscopy and algorithms to evaluate skin lesions for potential cancer in a matter of seconds. DermaSensor’s mission is to provide broad access to effective skin cancer checks. The DermaSensor device is currently FDA-Cleared, CE-Marked and is available for sale in the U.S.

One out of five Americans will have had some type of skin cancer by the age of 70, and the annual cost of treating skin cancers in the U.S. is estimated at $8.1 billion, with an estimated 5.5 million new cases each year. The good news is that 99 percent of skin cancers, including the most deadly form, melanoma, are curable if detected early. Access to dermatology is challenging, especially in rural areas, which makes empowering primary care to identify those cases warranting a referral even more vital.

Primary care physicians are at the forefront of healthcare delivery, handling diverse and increasing medical concerns while playing a critical role in the early identification of disease. To date, PCPs’ limited options for evaluating suspicious moles have been the naked eye or magnified visual examination of lesions, both of which are dependent on clinical training and subjective judgment.¹But now, physicians can use DermaSensor’s AI-powered spectroscopy technology to non-invasively evaluate cellular and subcellular characteristics of a lesion in question for skin cancer. The wireless, handheld device then provides an immediate, objective result using an FDA-cleared algorithm.

The FDA pivotal study of over 1,000 patients, led by the Mayo Clinic across 22 study centers to validate device performance, showed that the device had a sensitivity of 96 percent across all 224 skin cancers. A negative result had a 97 percent chance of being benign for all skin cancers.² In a companion clinical utility study with 108 physicians, the DermaSensor device was found to decrease the number of missed skin cancers by half (from 18% to only 9%), increasing the physicians’ accuracy and confidence in assessing cancerous lesions.³

“We are entering the golden age of predictive and generative artificial intelligence in healthcare, and these capabilities are being paired with novel types of technology, like spectroscopy and genetic sequencing, to optimize disease detection and care,” said Cody Simmons, co-founder and Chief Executive Officer of DermaSensor. “Equipping PCPs, the most abundant clinicians in the country, to better evaluate the most common cancer in the country has been a major, long-standing unmet need in medicine. While dozens of companies have attempted to address this problem in recent decades, we are honored to be the first device cleared by the FDA that provides PCPs with an automated tool for evaluation of suspicious lesions.”

The benefits are as much for dermatologists as they are for PCPs. DermaSensor is expected to improve primary care and dermatology collaboration, enabling better-prioritized referrals in addition to the referral of more patients with skin cancer. The company has conducted 13 clinical studies in the last decade, six of which provided the principal support for FDA clearance.

“Achieving this medical milestone is a testament to the 12 years and tens of millions of dollars our company has invested in research and development to bring this powerful technology to market,” said Dr. Maurice Ferre, co-founder and chairman of DermaSensor. “We are incredibly grateful to the FDA for their collaboration and dedication to this area starting with our first FDA pre-submission meeting in 2016. Having begun patient enrollment in our FDA pivotal study in mid-2020, we are now ecstatic to have clearance of our FDA-Breakthrough Designated De Novo submission.”

AI, dermasensor, detection, FDA, health, skin cancer, south florida

Jan, 2024

By Nikki Cabus

Boca Raton-based New World Angels invests $700k in Miami’s Fuego dance shoes

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New World Angels (NWA), Florida’s premier structured angel investment group, announced that it completed an approximately $700,000 investment into Fuego, Inc., as part of a $2.5 million capital raise. The additional funding provides capital for Fuego to continue its successful new product development efforts and global expansion.

New World Angels (NWA) is a group of 100+ accredited, private investors, operators and entrepreneurs dedicated to providing equity capital and guidance to early-stage entrepreneurial companies, especially those with a strong presence in Florida. Members of NWA have extensive experience in founding, building, and managing companies in a wide variety of industries. NWA members are involved in the entrepreneurial communities from Miami to Melbourne on Florida’s east coast and from Naples to Orlando on Florida’s west coast. NWA has invested over $30 million in innovative start-ups. In addition to providing funding, NWA members make their expertise and resource networks available to portfolio companies to facilitate a company’s growth.

Fuego is a global, tech-enabled dance-inspired athleisure and lifestyle brand providing patented sneakers worn by dancers in 120 countries around the world. Its sole technology is engineered for dancing and spinning on any surface as well. It serves a large and growing market of people of all ages enjoying dancing across all formats, including Hip-Hop, Ballroom, Salsa, Dance fitness, Swing, Ballet, Jazz, and more.

Designed in collaboration with Jade Chynoweth, world-renowned dancer, actress and social media sensation, the Jade X Fuego show is eco-friendly sneaker features a raw Jade stone and a knit fabric texture made from recycled plastic water bottles. It’s the shoe that went viral and really put Fuego on the map.

The investment reflects NWA’s interest in supporting new business opportunities for exciting new consumer products, a driving force in economies throughout the world. Ken Wilkes, lead of the Consumer Products team at NWA, commented that “The investment in Fuego is a great example of our investment thesis. We focus on consumer product start-ups in-revenue experiencing strong growth and high customer satisfaction, with a focus on wellness, sports, and leisure.

He continued “Consumer products and services are quickly evolving with changes in tastes and preferences, providing abundant opportunities for new products and businesses. Speed to market is accelerating, adoption of new technologies is disrupting established Go-To-Market approaches and providing great efficiencies, and innovation is rampant. Focused product offerings and identifiable customer segments are good, getting personal is important, and providing for interconnectivity is value-added. Fuego is a great example.”

Ron Tarro, President of NWA, commented “We are excited to add Fuego to our portfolio, especially as it marks another NWA investment in this area of focus for our organization. We will continue to look for investment opportunities that allow NWA to leverage its deep well of member experience and talent to assess investments and guide our portfolio founders toward growth.”

Fuego CEO Kevin Weschler noted, “It was a pleasure to work with the NWA team, especially as they brought an understanding of our business and insights on meeting the challenges and opportunities of growth, including global expansion. We are delighted that Ken Wilkes will join our board as an observer and share his experience as we continue to grow our company domestically and abroad for the benefit of all of our stakeholders.”

Click here to learn more about Fuego.

Boca Raton, dance, fuego, jade, miami, south florida, technology

Jan, 2024

By Nikki Cabus

Palm Beach State College receives $8M from Related Companies towards student scholarships

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The Stephen M. Ross Emerging Scholars Program at Palm Beach State College, created by Related Companies, was announced last month during a ceremony at Gaines Park in West Palm Beach. The $8 million gift will support West Palm Beach students in grades 7-12 and follow them through their postsecondary education with full scholarships at Palm Beach State.

“This gift is going to accelerate opportunities for West Palm Beach residents and businesses by helping remove the leading barrier to economic growth, and that’s the knowledge gap,” said PBSC President Ava. L. Parker, J.D. “What’s so amazing about working with Stephen and his vision is that he understands that it’s not enough just to say to 12^th-graders it’s time to go to college and here’s a scholarship. He understands the communication and the partnership must start so much earlier in the lives of these students.”

The $8 million gift, the first contribution of the Related Together grantmaking foundation, will ensure that every future graduate of Palm Beach Lakes and Forest Hill High Schools will receive a full scholarship to Palm Beach State College. The Related Together contribution will also be used to fund college readiness programs for students in grades 7-12 to help prepare them for pathways to a postsecondary education and career credentials that will bolster Palm Beach County’s future workforce.

“I’m thrilled to be here,” said Ross during the ceremony. “You want to live to have an impact and do things that can really benefit people. West Palm Beach and Related Together are really in a position to do that and become the model city for this country.”

Additionally, an Early College Academy will be developed at the two West Palm Beach high schools, which will include paid academic advisors and peer-to-peer student mentors. These student mentors will receive a stipend. The program will also focus on preparing students for STEM (science, technology, engineering and math) fields.

The program was developed in partnership with the Foundation for Palm Beach State College led by Vice President of Institutional Advancement and CEO of the Foundation David Rutherford, who attended the ceremony.

Attending the ceremony with Parker and Rutherford were Chairman of Related Companies and philanthropist Stephen Ross; Related Together Board Chair Gopal Rajegowda; Mayor of West Palm Beach Keith James; West Palm Beach Commissioners Christina Lambert, Christy Fox and Cathleen Ward; President of the Quantum Foundation Eric Kelly; PBSC former District Board of Trustees Chair Carolyn Williams; PBSC Foundation and Quantum Foundation board members; and others.

“This partnership will help accomplish my administration’s goal and that is to make West Palm Beach a community of opportunity for all,” said Mayor James during the event.

Each year, Related Together will contribute funds to implement projects and programs focused on six pillars, including education, housing, income and employment opportunities, health care access, arts and culture engagement, and digital accessibility. The success of each program will be defined by attracting scalable philanthropic investments and proactive grantmaking to launch new programs with the goal to reverse the cycle of poverty and support a cycle of growth.

“Related Together’s model is to have businesses that are coming here invest into the community through this program and work with local leaders to bring accelerated and immediate changes that will shape generations of people,” said Rajegowda at the celebration.

In partnership with Related Companies, Related Together was built through the expertise of local leaders, such as Kelly who is recognized for transformative change in underserved communities.

“These neighborhoods have been resilient, and they have resolved to succeed,” said Kelly. “I’m grateful for the leadership of our mayor, Stephen, Gopal, and in particular Ava Parker to acknowledge that these communities have been ready, they certainly are ready and now they have the opportunity to strive and make life better.”

Three pillars of the Stephen M. Ross Emerging Scholars initiative will help equip students and schools with resources to ensure postsecondary attendance, retention, and completion, leading to career readiness and personal success. The pillars include having Palm Beach State advisors embedded into the high schools to work closely with school counselors to guide students through the dual enrollment selection and registration process.

In addition, the Stephen M. Ross Early College Academy gives access to health sciences, STEM and other high-demand career pathways that empower the individual and impact the community.

Related Together’s organizational structure is comprised of key executive representatives, including Ross, Jeff Brodsky, Ken Himmel, Bruce Warwick, a Board of Directors including Rajegowda, Treasurer Katie Block, and Secretary Jordan Rathlev and supported through local partners and stakeholders, such as the Quantum Foundation, and others to be announced.

For more information and how to support, please visit www.relatedtogether.org.

Emerging Scholars Program, Palm Beach State College, scholarship, south florida, STEM, Stephen M. Ross, students, technology

Jan, 2024

By Nikki Cabus

UKG Ranks #3 Best Place to Work in IT by Computerworld

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UKG is ranked #3 in the world among large companies on the Foundry’s Computerworld 2024 Best Places to Work in IT list.

In addition to the overall #3 global ranking for companies with 5,000 or more employees, UKG also ranked #3 for Diversity, #7 for both Benefits and IT Growth, and #8 for Career Development on associated Computerworld lists.

This marks the third consecutive year that UKG has climbed the Computerworld Best Places to Work in IT list, advancing two spots from #5 on the 2023 list and ranking #6 in 2022 on the U.S.-only list, prior to the award going global. The annual recognition honors top organizations that challenge their IT staff with purposeful and meaningful careers while providing great benefits and compensation. Rankings are based on a comprehensive questionnaire about company offerings in categories such as career development; diversity, equity, inclusion, and belonging (DEI&B); the future of work; training; and retention.

UKG cares for its more than 15,000 employees — known as U Krewers — worldwide through a range of comprehensive benefits, employee resource groups (ERGs), and opportunities for career development and pursuing passion projects through its quarterly “Spark[Tank]” and “48 Hours” global innovation and programming events.

Standout Benefits

The company’s standout benefits program is highlighted by:

Fully paid healthcare premiums for medical, dental, and vision — including for spouses, domestic partners, and dependents — for the majority of employees, with coverage for infertility treatments, gender affirmation surgery, and surrogacy reimbursement, where allowed.
A 45% dollar-for-dollar company match on employee retirement-fund contributions in the U.S. and Canada, up to federal limits, as well as retirement-matching programs worldwide.
A global equitable benefits program called U Choose, launched in January 2023, which provides annual funds that U Krewers can use for over 150 different life expenses, from childcare and kids’ extracurriculars to pet care and personal wellness or lifestyle activities.
At least two paid days off for volunteering annually, through the company’s Global Volunteer Time-Off Policy. Together, this represents more than 245,000 hours of global impact each year.

Inclusive ERGs

UKG offers nine diverse, inclusive ERGs for community members and their allies to help build a culture of trust, equity, and belonging for all U Krewers. This includes groups such as BUILD (Black U Krewers in Leadership and Development); FIRE Up (Female Inclusion, Resilience, and Excellence) for women at all levels of the organization; NEST, which nurtures, empowers, and supports parents and caregivers through community, resources, support, and advocacy; and VETS for military veterans, their families, and their friends, along with UKG colleagues and supporters of veterans.

Spark[Tank], 48 Hours Programming Events

Recognizing that great ideas and innovation can come from anyone in the organization, UKG hosts two structured innovation programs open to all U Krewers worldwide: Spark[Tank] and the corresponding 48 Hours event. Spark[Tank] is a hybrid event that connects people across the company to foster innovation at UKG, and 48 Hours is a two-day, marathon coding event during which UKG engineers help bring the Spark[Tank] ideas to life. Participants present working concepts to a panel of UKG leaders, and the winning projects are often added to the UKG product roadmap. Over the years, concepts from 48 Hours have become award-winning UKG solutions, such as UKG Pro Giving, which allows companies to easily create and match charitable giving campaigns directly through employee payroll deductions.

“UKG strives to help every organization become a great place to work, and that mission shows up in the ways we value, respect, and care for our U Krewers every day,” said Scott Howitt, chief digital officer at UKG. “Just as we’re committed to providing our 80,000 customers across industries with innovative HCM solutions that help create top workplaces for their employees, we’re equally focused on making UKG the best place to work for our more than 15,000 U Krewers across the globe — including the hundreds who work in enterprise-technology roles.”

At UKG, our purpose is people. We are on a mission to inspire every organization to become a great place to work through HCM technology built for all. More than 80,000 customers across all sizes, industries, and geographies trust UKG HR, payroll, and workforce management cloud solutions to drive great workplace experiences and make better, more confident people and business decisions. With the world’s largest collection of people data, work data, and culture data combined with rich experience using artificial intelligence in the service of people, we connect culture insights with business outcomes to show what’s possible when organizations invest in their people. To learn more, visit ukg.com.

Broward, technology, to work, UKG

Jan, 2024

By Nikki Cabus

ADT Officially Exits Residential Solar Business

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Boca Raton-based ADT Inc. (NYSE: ADT) announced it will be exiting its residential solar business.

The Company will remain focused on cash flow generation and capital-efficient growth within its core security and smart home business. As part of this continued focus, ADT is also advancing its capital allocation strategy, including a cash dividend increase and authorization of a new share repurchase program.

ADT is the most trusted brand in smart home and small business security providing safe, smart and sustainable solutions for people, homes and small businesses. Through innovative offerings, unrivaled safety and a premium customer experience, all delivered by the largest network of smart home security professionals in the U.S., the company empowers people to protect and connect to what matters most. For more information, visit www.adt.com.

“The decision to exit solar operations was made after careful deliberation, and we expect this strategic action to drive substantial operational and financial benefits to ADT,” said ADT Chairman, President and CEO, Jim DeVries. “We want to acknowledge and thank our employees, partners, and customers as we work through this transition.”

Solar Business Update

Over the first nine months of 2023, ADT’s core business exhibited strong performance, while the solar business faced challenges, including operational difficulties and macroeconomic headwinds causing deterioration of conditions industrywide. As a result of these challenges, the Solar segment generated an Adjusted EBITDA loss of $89 million during this period. Following the previously announced restructuring of its solar footprint and a detailed strategic review, ADT’s Board of Directors has approved the exit of this segment, which may include the transfer of components of the business to other parties.

The Company expects to incur certain one-time exit charges and cash expenditures with potential offsets from asset sales or reduced tax expenses. As previously disclosed, as of September 30, 2023, the goodwill balance for the Solar reporting unit was zero. At this time, the Company is still analyzing the estimated net amount or range of amounts expected to be incurred in connection with this plan.

Strong Cash Flowing Core Business Propelling Capital Allocation Update

Supported by ADT’s confidence in the strong cash flow generation of its core business, today the Company is also announcing the following:

Dividend Increase – The Company’s Board of Directors has declared a quarterly cash dividend of $0.055 per share, payable on April 4, 2024, to shareholders of record at the close of business on March 14, 2024. The quarterly dividend represents a 57% increase over the previous quarterly dividend.
Share Repurchase Authorization – The Company’s Board of Directors has authorized a $350 million share repurchase program. As the Company executes share repurchases, the Board will periodically review the remaining authorization as part of its capital allocation strategy.
Balance Sheet Fortification – Consistent with the plan from its third quarter earnings announcement, on December 29, 2023, the Company repaid $500 million of First Lien Senior Secured Notes due 2024, completing an overall 2023 reduction of ADT’s total debt by approximately $2 billion. Further, following two corporate rating upgrades in 2023, the Company improved borrowing costs and extended debt maturities and in 2024, will have only $150 million of maturities and amortization payments. The Company remains focused on achieving its targeted net leverage ratio of less than 3.0x.
Core Investment – On December 20, 2023, the Company closed on a strategic bulk purchase of approximately 57,000 customer accounts for $89 million cash with attractive returns. This portfolio of customers is concentrated in a few key geographies, all of which align with existing platforms, enabling strong economies of scale upon integration. This transaction was not included in prior cash flow guidance.

Fourth Quarter and Full Year 2023 Earnings Conference Call

More details and an update on the business will be provided when the Company releases its fourth quarter and full year 2023 results on February 28, 2024. Following the release, management will host a conference call at 10 a.m. ET to discuss the financial results and lead a question-and-answer session.

Participants may listen to a live webcast through the investor relations website at investor.adt.com. A replay of the webcast will be available on the website within 24 hours of the live event. Alternatively, participants may listen to the live call by dialing 1-404-975-4839 (domestic) or 1-833-470-1428 (international) and providing the access code 533961. An audio replay will be available for two weeks following the call and can be accessed by dialing 1-866-813-9403 (domestic) or 1-929-458-6194 (international) and providing the access code 375946.

ADT, Boca Raton, clean energy, solar, technology

Dec, 2023

By Nikki Cabus

David Reeder to Join Chewy as Chief Financial Officer

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Chewy, Inc. (NYSE: CHWY) (“Chewy”) announced the appointment of David Reeder as their next incoming Chief Financial Officer (CFO).

After the retirement of long-term executive Mario Marte, Stacy Bowman stepped in as interim CFO. Upon David’s arrival, which is expected to place February 14th, 2024, Stacy Bowman will continue serving as Chewy’s Chief Accounting Officer.

“David is a highly experienced finance executive who has driven strong results across a range of complex industries,” said Sumit Singh, CEO of Chewy. “I am excited for David to join Chewy and to play an important role in driving long-term, profitable and capital efficient growth as we execute on key strategic priorities across our business.”

David Reeder is currently the CFO of GlobalFoundries Inc. (Nasdaq: GFS), a leading semiconductor manufacturer, where he has been for almost three and a half years. He has served as CFO since 2020 and led their financial strategy, including their 2021 initial public offering. David previously served as Chief Executive Officer (CEO) of Tower Hill Insurance Group, as well as President and CEO of Lexmark International Inc. Earlier in his career, David was CFO at Electronics for Imaging, Inc., and he also held executive roles at Cisco Systems, Inc., Broadcom Inc., and Texas Instruments Inc.

According to a filing with the U.S. Securities and Exchange Commission, David Reed, age 48, will receive an annual base salary of $600,000. He will also be eligible to receive a one-time new hire equity grant with a value of $16,843,750 (subject to the Board’s approval) which will be granted in restricted stock units of Chewy.

“Chewy is a beloved brand and a world-class enterprise, whose sustained growth, significant margin expansion and operational excellence continue to elevate the pet category,” said David Reeder. “I am thrilled to join Chewy’s leadership team and couldn’t be more excited about the road ahead.”

David is currently a member of the board of directors of Alphawave IP Group plc. He holds a Bachelor of Science degree in Chemical Engineering from University of Arkansas and a Master of Business Administration degree from Southern Methodist University.

Since launching in, Chewy has been on a mission to be the most trusted and convenient destination for pet parents and partners everywhere. The company aims to be the preeminent online source for pet products, supplies and prescriptions. Chewy has been known for their broad selection of high-quality products and services, competitive prices, and an exceptional level of customer care and a personal touch.

chewy, eCommerce, pets, plantation, retail, south florida

Dec, 2023

By Nikki Cabus

Things To Do: Top 10 events during Miami Art Week that showcase tech in South Florida

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As Miami Art Week takes over the city, South Florida’s technology enthusiasts search for the best happenings in town that combine both technology and the arts and culture worlds.

According to the official Miami Art Week website, “Each year during Miami Art Week, Miami and Miami Beach are the center of the art world and host over 20 art fairs, over 1,200 galleries and thousands of artists and art lovers.” The mission of the organization is to promote and support artists, galleries and arts organizations providing access and the chance to be discovered. With the tech and art worlds colliding, new opportunities arise for both communities looking to collaborate and learn from each other.

We searched through tons of events for you all happening December 3rd – 10th and chose the top 10 just for you.

1. December 4 @ 7:30 PM: Miami MoCAAD Soul Basel Kickoff – “This Life: Black Life in the Time of Now” (FREE)

The Miami Museum of Contemporary Art of the African Diaspora will celebrate the documentary and digital exhibition “This Life: Black Life in the Time of Now.” Through augmented and virtual reality experiences, live performances, film Screening and a virtual museum showcase, the exhibition will will showcase black life in today’s world. The event will also feature a panel titled “Creative Conversation: Exploring the Vision.” The free event can be attended virtually or in person. More info here.

2. December 5 @ 1:00 PM: Art + Tech Summit – Bringing Together Creators, Collectors and Industry Leaders

The Art+Tech Summit is a one-day event that explores the role and impact of emerging technologies in the art, entertainment, and consumer sectors. A meet and greet will take place at noon just prior to the event. The Art + Tech Summit will then feature speakers, conversation and a VIP mixer. The event will be held in the Arts & Entertainment District, but you must apply to attend. Details on the exact location will be revealed upon approval. More info here.

3. December 5 @ 4:00 PM: The Future is Immersive : A Fusion of Art, Tech, and Visionaries featuring “Meet the Drapers”

Proudly presented by industry leaders, this exclusive gathering promises an immersive blend of technology, innovation, art, and unparalleled networking opportunities. VIP passes allow you the opportunity to rub shoulders with industry influencers and visionaries in the realms of technology, art, and finance. The event holds a special connection to “The Drapers,” adding an extra layer of excitement to an already extraordinary evening. Don’t miss out on this unique convergence of technology and creativity. More info here.

4. December 5 @ 7:00 PM: Miami Tech + Startups Party

Join the special edition of Miami Tech + Startups as they invite special guest speaker Maja Vujinovic, Managing Director & Investor in FinTech & Digital Assets @ OGroup, to join the conversation. Maja focused on investments and scale of technology tools such as AI and blockchain and bridging a gap between legacy systems and web 3 tools. OGroup is also partnered with number of family offices helping them navigate emerging tech, acquisitions and implementation of generative AI and smart contracts. Tech, Drinks, and Startups in Brickell. The event’s goal is to be a catalyst, a way for you to meet fun and interesting people in Miami’s Tech Scene. More info here.

5. December 6 – 10: Code/Art’s The Student Digital Art Exhibit

Held at the Context Art Miami, the Student Digital Art Exhibit is a culmination of months of hard work and dedication by Code/Art students who competed in the CodeYourSelf™ competition (through various years). The pieces on display showcase their innovative use of computer programming to express their artistic visions, and we believe you will be captivated by the depth and creativity of their work. Exhibiting hours are from Wednesday-Saturday, 11 a.m. – 7 p.m., and Sunday, 11 a.m. – 6 p.m. More info here.

6. December 6 @ 6:00 PM: Miami Tech Together with Microsoft (FREE)

Held at the Miami College Idea Center, this Microsoft Art Basel event for nonprofits will explore how technology, art, and philanthropy can work together to empower your organization. Take part in a showcase of Microsoft’s tools and resources designed to empower nonprofits, an innovative networking experience with Tech Together Networking Station, the “Yeah Art Installation,” featuring thought-provoking works like “It Was All a Dream” & “Dream City”,” and a compelling panel discussion on “The Future of Digital Philanthropy,” where tech meets art and altruism. More info here.

7. December 7 & 8: Digital Art Collectors Preview by BlackDove (FREE)

This 2-day digital art event will be held in the Miami Art District. Meet the top artists, collectors, and curators during Art Week Miami at this dedicated digital art event. The events kicks off with an Artist Breakfast and closes out with a “Digital Canvas Technologies Deep Dive” where industry experts will dissect state-of-the-art software, pioneering hardware, and emerging trends. From speakers, panels, and talks around generative art, digital art, and even art in commercial and healthcare spaces, this event has something for everyone. More info here.

8. December 7 @ 5:00 PM: Canvas and Capital: Interactive Investor Dinner

Hosted by BLCK VC and in partnership with Silicon Valley Bank, this extraordinary evening of immersive experiences and meaningful connections will be held as an exclusive salon-style dinner. Amidst the artistic ambiance of Miami Art Basel, prepare to indulge your senses in an interactive art installation and groove to the beats of a talented DJ during dinner. Spaces are limited, and applying to this event does not guarantee your spot. More info here.

9. December 8 @ 4:00 PM: TFAPOPUP MIAMI 2023: Art x Innovation Day

Get ready to immerse yourself in a day of creativity, inspiration, and artistry that you won’t find anywhere else. TFAPOPUP Miami 2023 transcends traditional art exhibitions. It’s a vibrant celebration of artistic expression and a platform for emerging talents. At its core lies the TFA Young Curators Program, empowering emerging artists from around the world with the art of business and creative placemaking. Featuring gallery hours from 4pm-12 am and panel discussion on “The Ethics & Social Implications of AI-Generated Art” at 5:30 pm, this evet promises to be transformative and inclusive. More info here.

10. December 10 @ 2:00 PM: Vibration Revelation – Guided VR Art Meditation Experience

Embark on an immersive guided VR meditation art experience and awaken your imagination. Flow through mystical realms inspired by nature’s wisdom, offering an illuminated inner journey of revelations, as you reconnect with the boundless magic of existence. Alissa Christine, a pioneer in virtual reality art, and author of “i love miami 365,” photo documentary of gratitude, merges wellness with new media. Alissa creates immersive meditative story-telling experiences inside her illuminated 3D VR paintings, complimenting her Healing Arts practices for over 15 years. With a two-decade art career, her work has graced global galleries, including VR/AR Cryptoart Metaverses, local exhibitions during Art Basel Miami, and she’s contributed to magazines like Ocean Drive’s Art Basel Mag. More info here.

Is there an amazing Art + Tech Week event that you think we missed? Submit your event here.

art basel, miami, south florida, tech, week

Nov, 2023

By Nikki Cabus

Las Olas Venture Capital announced their latest investment in Miami startup Letterhead

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Las Olas Venture Capital, or “LOVC,” has announced their latest investment in a South Florida startup – Letterhead.

LOVC is an early-stage venture fund investing in B2B software companies based in the Eastern US. Founded in 2016 by former entrepreneurs and headquartered in Florida, LOVC is now investing out of its $50M Fund II and typically leads $3–7M rounds with $1.5–2.5M checks in businesses with early commercial signals of product-market fit (typically $200K+ ARR). Their low-frequency and high-conviction investment approach (3-5 companies per year) allows us to be deeply collaborative and hands-on with the founders we partner with.

Miami-based Letterhead is a software platform for automating the creation and management of email newsletters, streamlining newsletter creation, distribution, and monetization for publishers and marketing teams to help produce meaningful content at scale. The company aims to revolutionize newsletter content automation. The company was founded in 2020 by Rebekah Monson, Bruce Pinchbeck, and Christopher Sopher.

“Rebekah and Chris have brought a unique content-centric perspective to the world of email communication, building a compelling solution for organizations of all sizes to leverage the power of personalization to communicate on the most enduring first-party channels there is,” said Sim Blaustein, Partner at BDMI.

Leveraging AI, Letterhead empowers users to manage multiple newsletters with the workflow of one, improving efficiency and scalability while retaining the ability to create quality, personalized, and bespoke products. Letterhead’s software works with a customer’s existing content management system and email service provider, enabling any company to use its tools with minimal switching costs.

“Our vision is to help every company engage their audiences with meaningful media content,” said Christopher Sopher, co-founder and CEO of Letterhead. “As changes to cookies and privacy rules make owning your audience more critical than ever, we think it should be way easier for teams to create quality content products for every segment of their community. Our first step is making it possible for any business to create great newsletters in a fraction of the time.”

Letterhead is trusted by the publishers of over 1,800 newsletters, indicating a strong market fit and demand for more intelligent audience engagement software. Customers include leading brands like Techstars and Salon.

The $5.3 million seed funding round, led by LOVC, is joined by Reign Ventures with participation from BDMI, Florida Opportunity Fund, and McClatchy. Letterhead will use the fresh infusion of capital to continue developing the platform, expand the team, and accelerate growth as it continues to innovate how newsletters are produced and managed.

The Letterhead investment serves at LOVC’s 26th portfolio company and the 5th one for the 2023 year. 25 of the companies are currently active and the 26th being an exit. 20% of the active portfolio companies are in the state of Florida. LOVC currently has one additional deal expected to close soon and a second pending. 2023 was a big year for the firm and they expect to grow even more into 2024!

The Letterhead team is looking to make some critical hires across product, engineering and sales. Interested parties, can check out LOVC’s Portfolio Jobs & Careers Page and apply to the positions that match your qualifications at any of their portfolio companies.

“While there are many traditional email marketing products, none are focused on content-driven engagement like Letterhead is,” said Nate Vasel, partner at LOVC. “We were impressed with the team’s vision for an owned audience future powered by AI and automation and their consistent execution to grow the business.”

Born out of pure necessity, Letterhead is actually a spinoff of a product created for the co-founders other business, WhereBy.Us which launched the local Miami media site, The New Tropic. Once it began focusing on email newsletter formats, the business took off. People would ask about the tools used and ask the team if they could use them. After enough no answers, they decided to find a way to say yes and turn it into a business.

Media companies, nonprofits, higher education institutions, professional associations all began using the Letterhead tool increasing profits through AI, data analytics, integrations and the ability for clients to implement paywalled subsections, newsletters advertisements, easy-to-use templates and more.

To learn more about Letterhead, please visit https://letterhead.ai/

funding, investment, letterhead, LOVC, miami, newsletter, seed, south florida, startup

Nov, 2023

By Nikki Cabus

Streann Media Powers the Panamerican Games Connecting 25 Million Hearts and Screens

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The world’s third largest multi-sport games, Panam Sports, partnered with Miami’s Streann Media as the official streaming platform for the competition.

The Panam Sports Channel, powered by Streann, offered nine daily live signals (in English and Spanish) and reached more than 25 million content views through the competitions which were held in Santiago, Chile from October 20th – November 5th. Streann elevated the Panam Games viewing experience to unprecedented heights in 2023 with its revolutionary live multi-screen content experience.

“As Panam Sports we are taking a very important step in this fast-moving digital world. We have made a great investment because we believe it is essential to promote our sport, our athletes and to be able to reach more people throughout our continent,” said Panam Sports President, Neven Ilic.

With efforts to ensure equitable access to the games for all people around the world for free, the sports president took a “big bet” on Streann and it paid off. Just halfway through the games, Neven commented, “The athletes are happy, the response from the public that has packed the venues has been spectacular, and the numbers from the Panam Sports Channel and of our multimedia in general, are surprising.

He continued, “I have asked my team to make every effort to ensure that the Games reach everyone, so that no one is left without the possibility of being informed and enjoying this sports festival. And I think that has been more than fulfilled.”

According to the Olympic committee, the Pan American Games are a continental multi-sport competition for the countries of North America, South America, Central America and the Caribbean. They are the world’s third-largest multi-sport Games, surpassed only in size by the Olympic Summer Games and the Asian Games. More than 6,000 athletes from 41 countries now compete at the Pan American Games.

The Pan American Games include all of the sports and disciplines featured on the summer Olympic program as well as some additional sports governed by international federations that are recognized by the IOC. Some sports and events are direct qualifiers for the next Olympic Summer Games. For this reason, the The Pan American Games are held every four years, in the year prior to the Olympic Summer Games.

“We are receiving great reward from sports lovers across the Americas. Panam Sports has made a great effort to implement a unique Digital Channel across the world, with 9 simultaneous sports signals. It’s a success that forces us to provide the best service and satisfy the tremendous demand we are receiving,” said Panam Sports Broadcast Director, Michael Muller.

The Streann app connected over 25,224,357 viewers from across 43 nations and 141 geographies featuring 425 events in 39 sports which included 6909 athletes. Chile, Mexico and the United States were the top three countries with the most viewers. 59% of viewers were Android users and 35% IOS users. Amazon’s FireTV, followed by Roku and AppleTV were the most used TV app platforms used to stream. With 1.8 million apps in the Apple store, the Panam Sports Channel was the most trending in the Americas making the Streann SaaS platorm #1.

“Being the top trending app in the Americas is a testament to our dedication to excellence and innovation. We are proud to have created a technology that has resonated with users globally, providing them with an unparalleled content experience. This recognition motivates us to continue pushing boundaries and delivering the highest quality service.” commented Gio Punzo, CEO of Streann.

With much pride in his voice and a smile on his face, Gio recounts his experience on his flight back home, “Returning home from the electrifying Panamerican Games, I sat beside an athlete whose silver victory was as much a win for her as it was for her family, watching from miles away through our platform. In that moment, soaring above the clouds, the true impact of Streann Media’s TV 3.0 technology struck me—it wasn’t just about the advanced multi-screen experience or the top-ranking app.”

He boasted, “It was about the 24 million connections we fostered, the countless family moments we facilitated, and the lesser-known sports we brought into the limelight. We didn’t just broadcast games; we delivered emotions, triumphs, and a shared sense of pride across the Americas. This is the power of access; this is the dawn of TV 3.0.”

Streann is the AI-AR Social Interactive TV platform for creators and content providers with patented technologies. Streann transforms the landscape of modern media, leading the convergence of TV 3.0 and the social-first experience. Through a blend of Artificial Intelligence, Augmented Reality, Social Content, and Real-time Audience Engagement, we redefine the boundaries of storytelling and interactivity across all platforms and screens. In this next-generation media ecosystem, Streann is setting the gold standard by transforming passive viewing into an unparalleled, interactive social journey, facilitating the creation and curation of compelling content, making it effortlessly shareable and customizable. Welcome to the future of entertainment, where every experience is social, personalized, and truly unforgettable. For more information, visit www.streann.com.

international, miami, panam games, panamerican, south florida, streaming, streann media, tv 3.0, world

Nov, 2023

By Nikki Cabus

Miami’s Cyxtera Receives Court Approval for Sale to Brookfield and Plan of Reorganization

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Cyxtera (OTC: CYXTQ) announced that the U.S. Bankruptcy Court for the District of New Jersey has approved the sale of substantially all of the Company’s assets to Brookfield Infrastructure Partners L.P. (NYSE: BIP, TSX: BIP.UN) and its institutional partners (collectively “Brookfield”) and will confirm Cyxtera’s Plan of Reorganization.

Cyxtera is a global leader in colocation, interconnection services, and digital infrastructure. With IT infrastructure becoming increasingly hybrid, complex, and distributed, Cyxtera continues to expand its portfolio beyond space and power to deliver more cloud-like and flexible infrastructure solutions across its global data center platform and robust partner ecosystem. Today, Cyxtera provides more than 2,300 enterprise and government customers with the technology solutions they need to scale faster, achieve financial goals, and gain a competitive advantage.

“We are pleased to be moving forward with our sale to Brookfield, which will provide Cyxtera with additional financial flexibility and enable us to benefit from Brookfield’s global infrastructure expertise,” said Nelson Fonseca, Cyxtera’s Chief Executive Officer.

“Demand for our innovative data center services remains high, and we see significant opportunities ahead with our customers as we enter this next phase of growth.”

As previously announced on November 1, 2023, Cyxtera entered into an asset purchase agreement (“APA”) with Brookfield for a sale of substantially all of the Company’s assets.

Brookfield Infrastructure Partners L.P. is one of the largest owners and operators of critical global infrastructure networks which facilitate the movement and storage of energy, water, freight, passengers and data. The company is one of the few pure play, publicly traded, global infrastructure vehicles that invests in premier infrastructure assets with stable cash flows, high margins and strong growth prospects. With over $850 billion in assets under management, and over 100 years’ experience as an owner and operator, Brookefield puts their capital to work in virtually every transaction.

In connection with the APA, Brookfield entered agreements with certain of the Company’s landlords to purchase the real estate underlying seven of Cyxtera’s U.S. data centers. Additionally, Cyxtera amended the terms of its leases at three U.S. sites and three international sites to allow it to exit those sites in 2024. Collectively, these transactions will strengthen and optimize Cyxtera’s data center portfolio, better positioning it for the long term.

Fonseca continued, “Our partnership with Brookfield will strengthen our business, and we remain committed to ensuring the transition is as seamless as possible for all our stakeholders. We appreciate the continued support of our customers and partners throughout this process, and we thank our employees for their unwavering commitment to serving our customers.”

Cyxtera expects to complete the transaction with Brookfield, subject to regulatory approval and the satisfaction of customary closing conditions, and emerge from the court-supervised process in the first quarter of 2024.

Additional information regarding the Company’s court-supervised process is available at www.CyxteraRestructuring.com. Court filings and other information related to the proceedings are available on a separate website administrated by the Company’s claims agent, KCC, at www.kccllc.net/cyxtera; by calling KCC toll-free at (877) 726-6510, or (424) 236-7250 for calls originating outside of the U.S. or Canada; or by emailing KCC at cyxterainfo@kccllc.com.

Kirkland & Ellis LLP is serving as legal counsel to Cyxtera, Guggenheim Securities, LLC is serving as financial advisor, and AlixPartners, LLP is serving as restructuring advisor. Moelis & Co. is serving as exclusive financial advisor to Brookfield on the acquisition of Cyxtera. Wells Fargo and TD Securities are serving as joint financial advisors to Brookfield on the acquisition of the real estate underlying seven Cyxtera data centers and the pro forma combined entity, and are providing committed debt financing for the broader transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Brookfield’s legal counsel.

approved sale, bankruptcy, brookefield, cyxtera, miami, nelson fonseca, south florida

Nov, 2023

By Nikki Cabus

Mark Cuban & Anthropocene Ventures Back Climate-Tech Startup, Kind Designs

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Renowned entrepreneur and investor Mark Cuban, alongside early stage climate tech VC firm Anthropocene Ventures, has joined Kind Designs’ seed round.

The investment marks a significant milestone for the female-founded climate and construction tech startup, which has experienced exponential growth since its launch in June 2023. The new capital enables Kind Designs to triple production capacity and expand its team to meet explosive demand for its Living Seawalls™.

Major coastal cities in the United States, including Miami, New York City, and San Francisco, are at imminent risk from rising sea-levels with local and federal government agencies expecting to spend nearly $400B in seawall construction efforts.

According to FloodList.com, the study, titled High Tide Tax: The Price to Protect Coastal Communities from Rising Seas, reveals that “Florida will be by far the most heavily impacted state in such events, with projected costs of over $70 billion across the state, with 23 counties facing at least $1 billion in seawall expenses alone.”

As a result, the United States could be on track to destroy over 50,000 miles of marine habitat by 2040.

Kind Designs addresses this concern. The company is a climate-tech startup addressing rising sea-levels by revolutionizing the outdated and traditionally toxic seawall construction industry. Through its use of sustainable materials, and patent-pending 3D printing technology, Kind Designs is producing the world’s first 3D-printed Living Seawalls™️. The Living Seawalls protect coastal communities from floods and storm surges, while creating marine habitats, sequestering carbon and collecting essential water quality data.

Unlike traditional seawalls, which are typically flat, Living Seawalls incorporate biomimicry design principles and function as artificial reefs. The Living Seawalls also sequester carbon and collect essential water data. Kind’s innovative approach to seawall construction cuts production time by 95% and has zero green premium, making it both a sustainable and economical solution to at-risk communities.

“The investment decision was swift and resolute,” comments Anthropocene Ventures’ Managing Partner, Matthew McGraw.

Anthropocene Ventures is a global, early-stage VC firm investing in founders that leverage exponential technologies & hard science to make humanity more resilient. Kind Designs was the perfect for for the VC firm.

“Kind Designs surpasses our criteria with its immediate real-world application, clear business model, path to revenue, and the merging of nature’s smarts through biomimicry with 3D printing technology. Yet, what truly solidified our commitment is the performance of the founder, Anya. In a brief span, she has demonstrated exceptional execution.”

Earlier this summer, The Florida Venture Forum and co-host, Space Florida, hosted the 2023 Aerospace + EmergingTech Forum awarding over $200,000 in cash and VC investment. Kind Designs won first place taking home $40,000. In addition to the cash prizes awarded, DeepWork Capital, an early-stage venture capital firm based in Orlando, announced they will invest $100,000 in Kind Designs.

Soon after, GOVO Venture Partners, along with M4 Investing and the Florida Opportunity Fund, announced the decision to co-lead the $5M seed investment round in Miami-based Kind Designs.

In under five months, Kind Designs launched its warehouse, became fully operational and achieved revenue by starting to deliver the first Living Seawall panels in November 2023. The company plans to triple its production capacity by February 2024, with its recent purchase of two additional printing robots, showcasing the widespread demand for its pioneering products.

This month, Kind Designs also reached a workforce milestone, hiring its tenth full-time employee, a testament to its commitment to creating meaningful job opportunities in tech and fostering local talent in Miami. Other hires joining Kind’s founder and CEO, Anya Freeman, include Leandro Fernandez as Lead Structural Engineer and Jeremy Morris as Chief Operating Officer. Morris previously held roles at The Boring Company and Icon.

“Having investors with a global reach, like Mark Cuban and Anthro Ventures on our team is a huge vote of confidence in our mission to regenerate marine ecosystems and protect coastal communities,” shared Anya Freeman, Kind Designs’ Founder and CEO.

“With their strategic backing, we are positioned to propel Kind Designs into a massive global business, while simultaneously making an immense environmental impact. Together, we’re putting economical and environmentally beneficial coastal resilience on the map.”

Looking ahead, Kind Designs plans to further disrupt the coastal construction industry by working with government agencies to offer Living Seawall tax incentives on the county, state and federal levels. This program will be similar to incentives already in place such as solar energy and EV tax credits. Kind Designs’ Living Seawalls check several boxes by merging the structural integrity of traditional seawalls with a sustainable design that nurtures marine life and is more cost effective for coastal communities.

As Kind Designs continues to grow and innovate, this strategic investment will play a pivotal role in advancing its mission to protect coastal communities and marine life globally. Mark Cuban and Anthropocene Ventures join an impressive list of supporters within Kind Design’s $5M seed round.

To learn more about Kind Designs, visit https://www.kinddesigns.com/

Anthropocene, climate, kind designs, Mark Cuban, miami, seawall, south florida, tech, venture

Nov, 2023

By Nikki Cabus

Meet the 7 new startups welcomed into the 3rd 35 Mules cohort at FPL

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Seven new startups were just welcomed into the 3rd cohort of FPL’s 35 Mules innovation hub program.

35 Mules is the first in-house innovation hub backed by a global energy leader, Florida Power & Light, that provides startups of any age with cross-industry subject-matter expertise, advanced technology solutions, business services, world-class facilities and access to Fortune 500 corporate and technology leaders.

The 35 Mules program is an innovation hub designed to help startups grow and scale their businesses. The startups will work on their respective ventures at the NextEra Energy facilities in Juno Beach, gain access to subject-matter expertise and advanced technology solutions, and make valuable connections in the Florida business community.

The program is approximately 15 months long. agnostic to industry, and welcomes companies from around the world. What’s most special about the program is the non-dilutive cash grant of $100,000 to each startup company that makes it into the program.

Meet The Startups:

• AeonCharge – Enables EV drivers to access any charging station in North America through their preferred interface.

• Cambio – Software that helps commercial real estate companies and their corporate tenants decarbonize their buildings by ingesting simple building data normally manually collected by building engineers to measure the carbon footprint of each building and provide data-driven retrofit recommendations.

• Chemergy, Inc. – Builds solutions to solve our environmental and energy challenges by converting organic and plastic waste into green hydrogen.

• Cypienta – An AI solution that correlates seemingly disparate events and uncovers coordinated attacks that would otherwise go unnoticed and impact our infrastructure.

• Fire Neural Network – Uses cutting edge AI to save lives, protect property, and help fight against climate change. FNN quickly and accurately locates lightning-initiated wildfires and powerline damages.

• Noteworthy AI – Provides fleet vehicle-mounted smart cameras and AI that help utilities evaluate the condition of the electric distribution grid at-scale while reducing O&M costs.

• Ocellott – An electronics engineering company that creates innovative solutions to electrify the current and the next generation of aircraft, the eVTOL “electric takeoff and landing” in a safe manner.

“At NextEra Energy, Inc. we are passionate about fostering a culture of innovation and growth. Our innovation hub, 35 Mules, serves as a creative melting pot, where new ideas mix with the expertise of our dedicated employees,” Deborah Caplan, EVP, Human Resources and Corporate Services, wrote in a recent social media post.

“The energy and drive each cohort of startups brings is truly invigorating. Their unique perspectives, groundbreaking solutions and innovative methodologies provide an invaluable opportunity for both sides to learn and grow. We’re honored to be part of their journey, and I’m incredibly excited about the transformational impact we can achieve together! Welcome to 35 Mules!”

To learn more about 35 Mules, visit https://www.35mules.com

35 Mules, cohort, FPL, innovation, south florida

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